Chartty Number: 1176495 MUSEUM OF llMEKEEPING Unaudlted Trustees, Report and Financial Statements For the Year Ended 31 December 2022
MUSEUM OF TIMEKEEPING colENTs Page Reference and admlnlstratlve details of the charlty. Its trustees and advlsors Trustees report Independent examlner'5 report Statement of financlal actfvltles Balance sheet Notes to the flnanclal statements 8-15
MUSEUM OFTIMEKEEPING Reference and admlnlstyth detslls ofthe charlty, Itstrthstees *hd •d¥lso forthe ended 31 Def4mber 2022 TrusrEES J J Kou11as- ChaImn lappolnted 27th January 20221 ViscountA Midleton- (Chairman until 27th January 20221 A M Gayler- Vlce Chalmian N R Williams- Treasurer J Arnfield K Lawrey R B Loomes C H Bame5 {regned Ilth July 2022} AJ Wright R Struthers D Peach lappointed 27th January 20221 A Shaha lappolnted 18th November 20221 l Froston Ch•rfty R•glst•r•d NumlJ•r 1176495 Prln¢lpal offl¢e Upton Hall, Main Stree( Upton. Newark. Notts. NG23 STE Independent Examln•r Mlchelle Allen FCA Access Accounts SepA¢es Ltd, Chartered Accc4Jntants. Office 11, NavIga0Th Buslness Centre, Mlll G•tr, NewarK NG244TS •nk•rJ N•t$t 8ank Plc, Lelcester Customer Service Centre. Bede House. li Western Boulevard Lelcester. LE2 7EJ
MUSEUM OF TIMEKEEPING Trustee5' Report The Trustees present thelr annual report and financ1 statements ofthe tharity for the yearended 31st December 202Z. The financlal statements have been prepared In accordance with the accountin8 pollties set out In note I to the accounts and Comp wlth thedri5 tntst deed. the Charr Art 2011 and the Charitles SORP IFRS 1021. Oblecd¥•s and Acthrfd•s The Museum ol Timekeeping hold5 for put4lc benefft a collection to inspire and promote publlc understandlng and appreclatlon of horology and the history. 5cierbte, art and ttaft of Umekeeping. It achieves thi5 bv coll•ctln& d¢xumentlfi& prser¥ln& exthlbltlng and Interpretlng a collectfjon, aNI Ilbrary, and promoting It for public enjoyment and under5tandln8of hor01( and tlmekeepln& throuBh ethlbltlofts and wblfjc and educatlonal programmes. Achlw•m•hts and wrfomwn The Museum welcomed many¥itorS thfough the yearalthoueh dlfficuliy ffind1 volunteer5 restrkted somè openlng days. The work continued to di8lllse the extensive Ilbrary. Inueasin8 fundraising was a ke¥actity and number of Inltlauves were aereed. Sadty, our mana8er eX Bond. who had 8reaYy lrnproved the attractene$S olthe eXhIbS, resl8ntd In June 2022. Thè Board was forwnately able to appolntlsobd Frtssn asthe new man4er in July 2022. Hn•n¢l•l R•vhw Work on the library and other prolerts contlnuedthrou8h the ye•r. S•larycosts were hi8hér th the èndlng of G¢)vernment furfcu8h 8rants and overhead costs, malnty re6 to head bllls, Increased conslder•bfy. R•sfrfct•d Fundi The 8oard re4xamlned the tern)s of the 8enerou5 donatkon rnade In 2018 and have conduded that the terms dld not actually speclfy Indmdual areas for expendliure. The remalnlng funds have therefore been leaSe to neral funds. The 8oard met 4 tlmes durfn8 2022 either rtual or In and tht FINnte and Ge[41 Purpos•s Commltte• met twl¢eto d1$¢$ and the Board wlth matt•TS of8o¥emarKe. R•fer•nce •nd Admln1str•l l)•tsls A pollcv for exPendIre aut)rI53t00n Is In ace and adhered to. Communlcatlons betmeen Trustees are held on a w•b-based comrnunlcatlons system. Museum record5 are hosted on the 8rftish Horolo8ital Instttute Llmlted ff sèrver and re4ularty backe&up. Exernptlonsfrom dls¢lgsw• There is no Item exempt from disd05ure. Fund5 held as custodlan trustee on half0t others. Therewo5 Tne. Sl8ned on be of thÈ board of Tru5tees'. JJKOU Chairman
MUSEUM OF TrMEKEEPING Kl¢pendent Ex•mlTherfs Report for the year ended 31 De¢¢mber2022 INDEPENDETr EWAINER'S REPORTTOTHE TRUThES OF MUSWM OF TIMEKEEPING lthe'a)arWI I report to the tharftyTrustees on my examlnatlon ofthe actnts ofthe Charttyforthe year ended 31 Lknber 2022. Thls report made solety to the ChariiVsTrustees. as a btsdy, in accordan with Part 4 ofthe Charities IAttounts and Reportsl Regulatlons 2008. My work has been dertaken so that I mlght statè to the Char$ Trustees those matters l am requlred to stste to them In an Independent examinerfs report and for no other purpose. To the fullest extènt pemiltted by law, I do not accept or assume rtsponstblltyto anyone other than the Charity and the Charity'sTrust as a bo(ty. for my work or forthis rert RESPONSIBILITIES AND 8ASIS OF REPORT As th• Trustees ofthe Ch•rlty you •r• respOnsiÈt0rthe prep•ralJon olthe accounts in accordance wlth thè requlrements of the Charttles A¢t 2011 Ilhe 2011 Act'l. I report In respert of my examlnavon of th• Charlty's accounts carrled out under seciion 145 of the 2011 Art and In caryln8 my examination I have followed all the applKable Dlrertions given the Charity Commlsslon under sectlon 1451511bl of the 2011 ACL IP4DEPENIXNT EXAMINER'S sfATEIKNT Your attentlon Is drawn to the fart that the Charbty has prep•red the attounts In K¢ryd•n¢e wlth Accountln8 and Reportln8 by Charltlès.. Statémént of Recommended Practice awlicable to tharities preparin8 their accounts aCCOfdance with the Flnandal Reportln8 Stsndard ap1¢able In the UK and Republlc of Ireland IFRS 1021 preference to the Accountlng and Reporung by Charities: Statement of Recommended Prc¢¢ Issued on l Aprll 25 whlch Is referred to In the extant re8ulatlons but has been wbthdrawn. l undèrstsnd that thls has been done In onlerforthe x¢<>urits to prtylde • true •nd falrtA•w In accordante with the GenenltyAccepted kcountln8 Prd¢ttee effectlve for reportln8 perlods be81nn1 on or after l January 2015. I have eompleted my eyamlnatlon. l can conftmi that no matters have cometo myattention In cOn¢tIOn wtth the examlnatlon Ovong me cause to be11t that In anymatertal re5CL l 4¢¢OtIn& retords were not kept in respert of the Chxlty as requSrÈd by sé¢tkn 130 of the 2011 Act; or 2 the attounts do not ¥¢ord wlth those records: or 3 the accounts do not tomthwith the applScable requirements ¢oncemin8 the fonn and content of at¢ounts set out in the Charlties IAccounts and Reports) RewJlations 2(N)8 other than any requirernent that the accounts 8ive *rue and falrf wew whTrch not a mattertonydere<l as part ofan independent examinatlon. I have no concerns and have come across no other matters in connethon wlth the examlnation to whlth drawn in this report In ttderto enable a proper Understand1 of the ¥¢guntsto be reathed. Signed: Name.. MICHELLE ALLEN FCA 30 /ckn /I026
PA115EVM OF TIMEKEEPING STATEMENT OF FINANCIALAcfMI FOR THE YEAR ENDED31 DECEMBER21)2Z Total funds 2022 Total fund5 2021 funts 2022 fuThts INCOME FROM.. Charitable actl¥ltleJ Investments 3¥59 379 42,398 TOTAL INC1£ 35364 40.264 44.397 EXPENDITURE ON: Charltable attIlIeS 4,5&6 124J47 126A47 94,387 Totsl l¥p•ndliur• 124.347 IZ6.447 94.387 NET INCOMV IEXPENDITUREI BEFORE OThER AECOGNISED GAIIIS & LOSSES 189Xé31 186.1831 149,9901 UNREAIISED GAIN5 ON INVESfMEpir 112A921 5,8n NmOvEMEplr IN FUNDS RECONauATION OF FUNDS: Total fvnds brvu8htforward 20573 I804 315,982 364,125 R•siilrted Brant transhrred 14.0?Sl to unre5trlrted fvnds 110004 TOTALFUNDSCAAfiIED FORWAftD 117.307 315 982 Thè notes on pa8•s 8 to 15 fom part ofth•se IAal sMeff*nts
MUSEUM OF TIMEKEEPING LANCE SHEET ASAT31 OECfMBER 2022 2022 2021 FIXED AEr5 Tan8ible assets Investmènts 355 ICIS.043 106.398 2.523 117,581 120,104 io stock Debto Cash at bank and In hand 1,$28 16.023 145.142 162.693 li 17,7L 219.170 238.758 CREDITORS.. Arnourts tslllng due wllhin one ye•r 1SL7841 142,8801 110.909 19S,878 NETSSETS 217,307 315.982 CHARITY FUIIDS R•5trlctÈd funds Unremrlcted funds 214,407 205.578 TOTAL FUNDS 217,307 315,982 The ftnanoal statements were apprrrted by thèTrustees on 1¢ 4 3>, and Md on thelr behalf bv.. , Ch•lnn•n N R Wllllam5, Tre¥surer
MUSEUM OF TIMEKEEPING NOTES TO THE FINW4aALSTATEMEtrfrs FOR THE YEAR ENDED 31 DECEMBER 2022 AccouNllNG POUCIE5 Basls of preparatbn of financlal statements The flnanclal 5tstements have beèn prepared to glve a Irue and ¥lew and have departed from the Charitie5 IA¢¢tsunts and Reports) Rewlations 2tl]8 On to the extent required to provide a'true and falrf voew. Thi5 departure has Invofved followin8 the Chartts SORP IFRS 1021 published on 16 Jufy 2014 rather than the Attountlng and Report6n8 by Charits: Statement of Recommènded Pra¢b¢e effethve from l Apdl 2005 which ha5 5LrKe been wthdrawn. The flnanclal statements have been prepared underthe htstoracal tost tOFNenYon vAth Items reColSe at Cost or transactlon value unle55 Otherwlse stated In the relevant notes tothe5e account5. The financial ststements have been prepared in accordan with the Statement of Recommended PrnCti.. Attountlng Ind Reportln8 bycharltles preparlng thelraccounts in acttsrdance the Flnancial ReportSn8 Standard appllcable In the UK and Republlc of Ireland IFR510211ssued on 16 july 2014 and Flnancial Aeportlng Standard appIlble In the Unrred Kin8dom and Republic of Ireland IFRS 1025 and Charitles Art 2011. Museum of Thmekeepln8 constliutes a pubuc l)et)efft entityas defined by FRS 102. Income All incomels Tecognlsed once the Charlty has entftlement to the Income. It Is probable that the Income wlll be recelved and the amount of Income receovable can be measured rellablv. Income tax recoverable In relatlon to dOnaOnS receed underGIft Ald or deeds of cmnant Is recwlsed at the Yme ofthe donatlon. Incorn• tax recoverable In relatlon to Investment Income Is reco8n15ed atthe Ilme the Investment Income Is re¢elvable. Other Income15 recognlsed In the pertod In whkh tt 15 recelvable ar tothe extentthe 8oods have be•n pro¥lded or on completlon of the 5ervlce. Expendlture ExPendUre 1$ reco8nlstd once there a le8al or ¢orbstru obllgatlon to tr•n5fer economlc benefft to a thlrd party, it Is probable that a trarthrof economk beneffts VAII be requlred In settlement and the amourt of the obllgadon can be measured reliably. Expenditure dassified by adi¥ity. The c05ts of eath actlvtty are made up of the total of dlrect costs and shared costs. Induding support Costs Invofv4ed In undertaklng eath actity. Dlrert Costs attrlbutable to a slbvdle activlty are alhxated directty to that activity. Shared costs whith conirlbute to more than one artIV and stspport ¢Q$15 which are WKt attributable to a sln8le actmty ar• apportioned between those artivities on a basfjs conslsttnt tfvlth the use of resources. Central 5tsff costs are allocaled on the basls of tlme spent, and depreclatlon th3rBes allOted on the poOn of the asset's use. Support costs are those costs Incurred dlre¢tFy in supportof expendlture on the obiects of the Charlty and Include projert management carried out at Headquarters. Charltable actthles and Goveman¢e ¢ost5 are costs in(JJrYed on the Charitrls tducatlonal 0tions, including SUPPOrt costs and costs relating to the governance ofthe Charlty apwtioned to charttable actlvltlts.
MUSEUM OF TIMEKEEPING NOTES TO THE FINIANCIAL sfATEMEPIts FOR THE YEAR ENDED 31 DECEMBER 2021 ACCOUNTING POUCIES CONnNUED_ Tan8lbl ftxed assèts and dewethtlon All assets costln8 more than £250 are capltsllsed. A revlewfor Impaimient of a fixed assèt 15 carried out rf events or dngS In circurnstances Indicate that thè carrylng vue of any asset may not be recoverable. Shortfalls bet¥en the carrylne Wdlue of fixed a and thelr recoverable amounts are recoBnLsed as lmpalrnnts. ImpalTment1055es are recognised in the Ststement offinandal actlths. Tanglble ftxed assets are caftled at cost. net ot dewedatim and any woirfsb)n for Impairment. Depredatlon Is provlded at rates calculated to write off the c05tof fixed •ss•ts. less tholr estimated reshdual valu•. overthelr eXPÈtted useful Ilv•s on th• followln8 bases: Flxtures antj fittiny Office gqulpment 25% strai8ht li 25% Stralght I Investm•nts Flxed ass•t Investments are a forni ol financlal Instrument and are InrtSlly re£o8n15ed at th•lr trnnsattion cost and subsequently measured at fair v¥lue at the Balancè shet date, unless faw value cannot be measured reliabty la which Case it is measured at cost less lrnpalrment. Investment galns and105ses are shown In the headln8'Galns/llossesl on Investments, In the Statement of lIndI] ¥tMtks. Usted Investments are measured at falr value wlth than8es In f41rvUe bel8 reCOlS¢d In the Statement of flnandal acuvltles. Irrterest recelwbl• Interest on funds held on deposit is included when ceivable •rnl the amount can bt n4$Ted rellably by the Chary,. this is normally upon +tIfation of the Interest paid or payable tythe Ban Sto¢k5 St(KVs are valued at the lower of cost and net realW)le value after maktng due allOnCe forobsolete and slow.movln8 Stocks. Cost Includes all direct costs and If appTWate. a proportlon of hxed and varlable ov•rh•ads. Debtors Tr¥de and other debtors are recognlsed at the settlemènt amount after anytrade dls¢ount offered. Prepayments are valued at the amount prepald net of anytrade dlscounts due. Cash at Bank and In hand Cash at bank and In hand lrtdudes cash and short term hiehty liquid invtstsnents wlth a short maturlty of three months or less frc#n tht date of acqsbt1Ort or openin8 ofthe deposlt 4mllar at¢ount.
MUSEUM OF TIMEKEEPING NOTES TO THE FINIANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUNTING pouaES COPrnNUED.. i.io Uabllltles and provtslons Llabllltl¢s are reco8nised when there 15 an obligation atthe Balan sheet date as a re5uh of a past e¥en¢ Is probable that a transfer of econ(Knic benefft wll be required In settlernert and the amount of the sethement can be estlmated fellakAy. Uabilities are reco8nlsed at the amountthat the Charbty antlclpates it will pay to settle the debt orthe amount tt has received as athrKed paentsfor the 8crfJds or ser¥lces tt must provide. Provlsions are measured at the best estlmate of the amounts requlred to settte the obllgatlon. Wherethe effert ofthe tlme value of money Is materl41, th prtr4tslon is based on the present value ofthose am¢)unts. dlscounted atthe prtrtax dlxount rate that reflerts the risks speafic to the liability. The unwlndln8 of the dlscount Is reco8nlsed wfthln Interest payable aThl slmSlar char¥¢& i.ii Fln•nclal Instruments The Charlty only ha$ flnanclal assets and financlal Il¥bilktle5 of a klnd thatquallfy Is bas1¢ ftnandal Instruments. 8aslc financlal Instruments are Inittslly reco8n15ed * transarth value and subsequentlv measured at their settlement value with the exceptlon of bank loans which are subsequently measured at amortlsed c05t usln8 the effectlve interest method. 1.12 Fund accountlni General fvnds are unre5tritted fvnds whlch are avallable foruse atthe dlscretlon of theTrustees In rth•ranc• of the 8eneral oblectlves of the Char6ty and whlch ha¥e not been deslgnated for other purposes. Restrl¢tsd funth ar• funds which ar• to be used In •¢cttdan Tfth speclfic restrkdons Imposed by donorsor whlch hwe been TaL5ed by the Charltyfor partbjlar purpl) The costs of ralslnq and admlnlsrerlt)g such funds are charged a8aln5t the SdAC fund. Th alm and use of each rerkted ful Is ¢Jut In the notesto the fln3rt¢lal 5tat•ments. Investment Income, galn5 and tosses Jre allocated tothe approprtate fund. Crftlul aCntIng estlm#tQs and are•s of Judgment Estimates and jud8ments ire contlnually wdluated and are bxed on h1stori1 expevience and other factors Includlni expertatlons of firture events that ait belleved to be reasonable under the drcum5tance5. No crttlcal jud8em•nts w•r• regulred In orderto apth the Charws accounty kIs, and there are no key 50urce5 of estymatlon nrtaInty 1.14 Herltage assets It Is thè pollcy of the Trust not to caprtallse herlta8e assets belongingtothe Museum. These arè In effect Inalienable, htld In perpetuity, and are mosity irreptaab1e. Any ftnanclalty based valuation would be mslèadin8 to the value and Significan of the materfal culre Involved. The trust has a dear duty of care for these assets and to make them available forthe enjcwent and educatoon of the pIC as far as Is pos51ble, ommensurzte with their kJn8 tefm care and pre5er¥alion. The highest possible stsndards of collertion management are applled, and the ¢atslogue5 are made avallable as wldely as possible tofadlitate all enquirie5 and requests for inf0mtIOn, gjbject to appropriatr s¢tyrity and dats protèrtion guidellnes. io
MLISEUM OF NOTES TO THE FINANCIALsfATEPAENrs FOR ThE YEAR EP4DED 31 DECEMBER 2022 INCOME FROM CHARITABLE AcnvmES Totsl funds 2022 Total funds 2021 Unrestrlrted fvnds Restrlrted fvnds Total fisnd= 32.959 28.841 13,557 42.398 37.959 INVESTME INCOME Unrestrfcted funds 2022 Restrirted funds 2022 Totsl funds 2022 Total funds 2021 Investment Income nk Interest recelvabte Oth•r Intérest rÈeéivabl• 954 954 386 965 2.305 237 1.168 1.999 DIREcf COSTS Charitable Actlvltles Totsl 2022 Total 2021 Museum costs Open day costs 41,650 778 42.427 41.650 778 41427 25,306 727 26.033 SUPPORT cosrs Charltable Total 2022 Totsl 2021 BHI Support Costs Irentl BHI Support Costs provlslon released Subscrfptlons Contratt staff Professlonal fees Consultancy fees Office costs Governance costs Wages and salarles Trainini DeprecIaOn 15,C I3.Cl 15,¢MI 13.¢xxJI 65 1,342 15,OCIJ 198 237 1.500 1,859 2,722 59.069 2,058 2.168 84,02G 2,722 59,069 2.058 2.168 84.020 43,933 68,354 TOTAL DIREcf AND SUPPORTcosrs 126,447 126.447 94,387 Durin8 the year ended 311)ernber 2022, the Charlty Incurred the follovAng Gu¥emance costs: £I.xI {2021 - £7201 inr,ludpd 7•Nthin thp tablp above in respect of independent examinations. li
MIJSEUM OF TIMEKEEPING NOTE5 TO THE HNANCIAL STATEMENIS FOR ThE YEAR ENDED 31 DECEMBER 2022 ANALYSIS OF EXPENDtWRE 8YTYPE Staff costs 2022 Depreciation 2022 Other costs 2022 Totsl 2022 Charitable artmtles 59.069 2.168 65,210 126,447 Totsl 2021 43.933 47,370 94,387 7. Nrf INCOME1(EXPENDUREj Thls is stated after char8in8'. 2022 2021 Depreclatlon of trngible fixed assets: Owned by the Charlty 2,168 3.084 720 3,804 3,168 IaTr8 the year noTrustee recelved any rernneratlon12021- £nll) or benefft In klnd12021- £nlll. Durtng the year no Triistee recew relmbursement of expen5e5 In the rrent year121Y21- £nlll. STAFF COSTS Staff costs were as follows '. 2022 2021 Wa8es •nd salwl 59,069 The a¥ern8e rbumber of persons employed by the Char6ty durfn8 the year was as folli)ws: 2022 No. 2021 No. Mana8ement Adminlstratfve stsff No employee reo¥ed renumeratlon amounuryto more than É60.OCrf) In elther year. No remuneratlon or benefrt was recelved ty key mana8ement personnel.
AAi•ec•iAA NOTES TO THE FIP4ANaALSTATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2021 TANG18LE FLXED ASSETS Ftstures equipment Total Cost At l January 2022 Add10 Capltal 8rant At 31 Decèmber 2022 2.793 11779 15,572 2.793 12.779 Depreciation At I january 2022 Char8e forthe year At 31 December 2022 2.193 245 2.438 10.856 L923 11779 13,049 2,168 15,Z17 Net book value At YI December 2022 3S5 355 At 31 December 2021 1,923 2,523 10. FIXED ASSET INVESMENTS 2022 2021 5ted securttlej At I january 2022 Unreallsed 8alnll1o5sI Income relnvested At 31 December 2022 117,581 112A921 954 106.043 111,114 5,873 594 117,S81 Imiestments at marketydlue. held In the UK COrse. 2022 2021 abrdn (Aberdeen Standard) unlt trvst Investments 106,043 106,043 117.581 117581 11. DEBTORS 2022 2021 Due wlthln one year Other debtors 16.023 17,706 17,706 Included In Other debtors are amounts owed tythe BTiti5h Horolowcal Institute Limited, a rebat•d company. See Note 15 for deLwLs of these transactlons. 12. cREDOR5.. Amounts falling due wFthln one year VAI Trade credltors Othertsxation and social securlty A¢crvals Other credltors 47,610 1812 36.224 1,896 4.720 362 51,784 42,880
MiISEUM OF TIMEKEEPlf4G NOTES TOTHE FINANCIAL STATEMEIIIS Fth9 THEYEAR ENDED 31 DECEM8ER Z02Z 13. STATEME OF FUNDS STAYEMEPll CI IAlry v.pfArrYLL Balartè at ljanuary 2022 Other Balance at 31 Inlout l)ecember 2022 Incon Expendlture Unrestrkted funds: Gener•1 funds 205.578 35.264 1136,8391 110,404 214,407 Restrfcted funds IiOA04 12.1 IIIOA041 Total of funds 315.982 40,264 1138.939 217,307 STATEMENT OF FUNDS- PRIOR YEAR BalarKe •t l January 2021 Transfers Balance at 31 InIrt Dernber 2021 Incom Exwiditurn Unre51rkt•d Funds G•nernl fvnds 2S6574 36.713 187,7091 205.578 Rertdcted funds 107JSI 13,557 16,678} 14.0261 110,404 364.125 SO,270 94,3871 4,026 315 982 suMRy OF FUNDS. CURRENTYEAR Balance at l January2022 Transfers Balance at 31 Inlout December 2022 Inrome Expendkure Oes18nated funds Genèr•1 funds 20S.578 205.578 114fi A44 11n,ana 110,404 214,4n7 214.407 35264 1136.8391 Restrtct•d fvnds 110.404 I2,1) 1110,4041 315.982 138.939 217.307 SUMMAIIY UP PVN05- PRIOfl YWI Balance at l January 2021 Transfers Balance at 31 Inlout December 2021 Income Expendlture Deslgnated funds General fvnus i98.+ i8.5/4 256,574 1198,InJl 198.1KXJ Z05,578 205,578 36,713 187,7091 Restrlcted funds 107,551 13,557 16.6781 14.0261 110,404 364,125 50.270 194.3871 4,0261 315.982 14
MUSEUM OFTIMEKEEPING NOTÉS TO THE FINANCIALsfATEMENTS FOR THE YEAR ENDED 91 DEmBER 2021 14. ANALYSIS OF NEfASSETS BETWEEN FUNDS Unrestrirted funds 2022 Restrirted funds 2022 Totsl funds 2022 CURRENT YEAR Tangible fixed assets Flxed asset Investments Current assets Creditors due wlthln one year 355 106.043 159,793 151.7841 214.407 355 106.043 162.693 151,7841 217,307 Unrestrfcted funds 2021 Restricted fvnds 2021 PRIOR YEAR ful 2021 Tan8lble fixed assets Flxed asset Investments Current assets Credttors due wthin one year 223 124,048 128,354 142,8801 212.045 2.523 124,048 238.758 42.8801 322,449 110.404 110,404 15. RELATÉD PARTY TK4N&4CTIONS The Horologlcal Instltute Lbmlted by warantee18HI Llmltedl Is a company related to the charlty. During the year the Charity incufrtd support costs (which Includes use of BHI Umited's property to house the collertbon, and othèr rtthargesl to BHI Lknlted totalllno £46.95412021- £34,461). The charlty re¢elved £1S,LNM) {2021- £12.LMxII from 8HI Llmlted for access to the museum for $ members and students. The Charlty has prevlously fommlly loaned BHI Llmlted £107,(MKI whlth ¥ns be5n8 repaid in monthly Instalments over a perfod of fj) months at an Interest re of 2% perannum. Capital repayments tot?Illng £1,68312021- £18,190) were made durln8 the year. and interest of £13612021. £3571 was ¢har8ed. The amount owing to the Chaiity at the year end tas £nll12021- £L6831 and was Included Other debtors. Is